INTEGRATED FILING FOR QUARTER AND FINANCIAL YEAR ENDED 31ST MARCH 2025
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Awaiting price reaction for this filing.
Regal Entertainment & Consultants Ltd, an NBFC, filed its audited results for FY25 showing total income of Rs. 96.17 lakhs (up sharply from Rs. 8.66 lakhs in FY24) and net profit of Rs. 51.88 lakhs (vs Rs. 0.15 lakhs last year), translating to EPS of Rs. 1.69. The big jump was driven mainly by a one-time loan assignment deal with a third party, where loans worth Rs. 188.48 lakhs were realized for Rs. 230.86 lakhs, with the Rs. 42.38 lakh excess booked as interest income. Operating cash flow turned strongly positive at Rs. 176.81 lakhs, and cash on hand rose to Rs. 227.23 lakhs from Rs. 0.41 lakhs. However, the auditor (DBS & Associates) issued a qualified opinion flagging three issues: non-compliance with RBI NBFC filing requirements, unverifiable investments of Rs. 18.73 lakhs (no demat statements), and a Rs. 81.42 lakh BSE penalty/leave-not-granted fine that the company has not provided for in its books.
Headline earnings look strong, but the surge is largely from a one-off loan assignment rather than recurring business, so the quality of earnings is weak. The qualified audit opinion, recurring RBI compliance issues, and the unprovided Rs. 81.42 lakh BSE penalty are meaningful red flags for shareholders despite the return to profitability.